I know quite a few small business owners who send out fun little gifts around the holidays to their clients, but did you know that the entire gift may not be deductible?
Today, I’ve just got a quick little tip when it comes to deducting the gift expenses.
You can only deduct gifts up to $25 per person.
That’s it. Easy peasy, but something not everyone’s aware of. If you’re a tax nerd, like me, and want more info, the IRS has some fun examples for you!
Client Gift Tracking Spreadsheet
Need an easy way to keep track of your client gifts? I’ve got you covered – just click on this link to download the spreadsheet that I use to track client gifts.